How to Create a CD Interest Calculator in Excel – 2 Easy Methods


What Is CD Interest?

CD Interest is the total amount including the investment and the compound interest.


Method 1: Use Excel FV Function to Create CD Interest Calculator

Use the FV Function to create a CD Interest Calculator. The FV function returns the future value of an input number, it requires arguments consisting of rate, nper (number of periods for compounding), pmt (withdrawable amount), pv (investment).

  • Create a dataset including investment amount, rate of interest, term in year, and compounding period per year.

 cd interest calculator excel

  • Enter the following formula in the cell you want the CD interest to be displayed. Here, C9.

Use of FV function to create CD Interest Calculator

  • Press Enter. You will see the CD Interest.

Formula Breakdown

  • C5/C7 is the rate of interest. The rate of interest is in C5 but it is divided with the compounding period per year, which is in cell C7.
  • C6*C7 represents the cell for the number of times the interest will be compounded.
  • 0 no investment will be withdrawn before the maturity period.
  • -C4 is the cell for the investment amount.

Read More: Daily Loan Interest Calculator in Excel (Download for Free)

Method 2 – Create a CD Interest Calculator Manually in Excel

Use the formula:

Interest = capital*(1+interest rate)^(number of interest compounding term)


  • Create a dataset.

making CD Interest Calculator Manually

  • Enter the formula  below in the cell in which you want the CD interest to be displayed. Here, C9.

  • Press Enter.

C4 contains the investment amount. C5/C7 is the amended interest rate and C6*C7 represents the number of times the interest will compound.

Read More: How to Create a Daily Compound Interest Calculator

CD Interest Calculator

Use the CD Interest calculator below.

CD Interest Calculator for User

Download Practice Workbook

Download the practice workbook here.

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Mehedi Hasan Shimul
Mehedi Hasan Shimul

Md. Mehedi Hasan, with a BSc in Electrical & Electronic Engineering from Bangladesh University of Engineering and Technology, holds a crucial position as an Excel & VBA Content Developer at ExcelDemy. Driven by a deep passion for research and innovation, he actively immerses himself in Excel. In his role, Mehedi not only skillfully addresses complex challenges but also exhibits enthusiasm and expertise in gracefully navigating tough situations, emphasizing his steadfast commitment to consistently deliver exceptional and quality content.... Read Full Bio

  1. Great info and easy to understand. Make an option for selecting varying compounding periods; such as annually, monthly, quarterly, bi-annually.

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